Ethereum, the second largest cryptocurrency by market capitalization, is seen today trying to consolidate slightly higher on the pivot point of the week. A key support in most cryptocurrencies at this time.
Ether has dropped 10.15% from $ 179 to $ 161 this weekend, a setback that has led it to be close to the 38% fibonacci level. So far, as we have said in recent analyzes, we are in a technical correction where we still cannot consider that we have entered into a downtrend.
38% fibonacci is an important rebound area in assets. If we lower these levels the situation would be a little more delicate, looking for prices below $ 155. At the moment the consolidation over 23% is maintained, although the volume is not the most indicated.
After the recent fall we have seen a decrease in volume and that can make the price not consolidate quite well over current levels.